Posts tagged " Toronto "

Summer 2016 Market Review

September 13th, 2016 Posted by Market Review No Comment yet

I’ll admit it: sometimes, I get tired of repeating myself! The Toronto real estate market has risen so consistently – relentlessly, even – over the past few years that these monthly reports are not nearly as exciting to write as they once were.

Like last year, I’m combining July and August here. I started doing that because the summer is usually quieter than the spring and fall markets. As it happened, that wasn’t quite the case this year. I had expected July to be busy, but it exceeded expectations with 9,989 transactions – yet another monthly sales record. One wouldn’t have thought that likely given the on-going supply shortage….

Once again, while sales volume was up (1.8%), the number of new listings was down 7.4%, from 14,625 to 13,542. The total number of active listings fell from 16,673 to 11,346, a drop of 31.9%. Strong demand driving increased sales volume amidst fewer houses for sale is a recipe for frustration, isn’t it?

These market conditions caused the average sale price (across all types) to surge 16.6%, to $709,825. Note that it was below the June average of $746,546, which is typical. The market stays super tight (low supply and lots of buyers), but with a different mix of house types: fewer of the top-priced detached and semis, and a higher ratio of less expensive condos, which brings the average down.

On the topic of condos, sales in the 416 increased by a somewhat lower 9.8%, edging the average price up by just 8.2%, to $427,074.

August was even more impressive. Sales shot up 23.5% over August 2015, to a new record of 9,813 transactions. Much has been made of the point that there were two more business days in August 2016 over last August, but the fact remains that the number of active listings was down 37.7% to just 9,949 while sales continued to surge. The average sale price was up 17.7% over August 2015, to $710,410 (about the same as July, for much the same reasons).

Condo sales in the 416 jumped 33.5%, driving up the average price by 9.8%, to $446,612, which was also up over the previous month. In short, condo sales in Toronto are hot these days.

The fall market is upon us, and the number of listings seems to be increasing. That’s good for buyers, who get more selection, but also good for sellers, as the overall increase in activity correlates to higher prices. It ain’t easy navigating the Toronto real estate market, but I’m here to help. Call me any time!

58 Brookmount Rd – gorgeous 3 bed semi backs onto parkette **SOLD**

January 11th, 2016 Posted by SOLD!! No Comment yet



The Beach Triangle is a fantastic pocket of classic, Toronto-style homes, just west of Woodbine Ave at Queen St E in the Beach. The area was mostly built around 1910-1920, with brick detached and semi-detached homes that have stood the test of time. Most of the homes have been renovated in this post-racetrack era, and values have appreciated significantly since the 1990s.

Number 58 Brookmount Rd is a fine example of Beach Triangle stock. It starts with a Beach-style porch – I love that! Inside, the hardwood floors are among the best I’ve ever seen in a Beach house. The kitchen is renovated with a pass-through to the gorgeous dining room and a walk-out to the west-facing deck. Upstairs, the main bathroom is fully renovated with a tub and a separate shower. The front and back bedrooms are much larger than average for the area (and the middle room is good, too). All in all, it’s very spacious.

Downstairs, the basement is fully finished with a rec room, separate bedroom/office, a three-piece bath, a wet bar and storage both in the utility room and under the stairs.

The back deck steps down to a nice yard with a gate to the parking spot off the back lane. Beyond the lane is the Jeff Sloan Playground, a great little neighbourhood ‘secret’. 😉 It really doesn’t get much better – I love this house!

Queen St East is just two blocks down the street. There you’ll find the streetcar (or walk two blocks eastwards to Woodbine Ave for the bus up to the subway), plus restaurants, coffee shops, groceries – all the local amenities you need. Walk a few more minutes west and you’re at Woodbine Park; you could also head east to Kew Gardens or go straight south to Ashbridges Bay – all are just about a 10 minutes away. And, if you are driving, the Gardiner Expressway is just a few minutes away.

This great house was snapped up before hitting the MLS. Don’t miss out on opportunities like this – call or email me today and get on my list!

October 2015 Market Review

November 9th, 2015 Posted by Market Review No Comment yet

TREB reported 8,804 sales through the Toronto MLS in October, 3.4% more sales than October 2014, setting another monthly sales record. By now it should come as no surprise to anybody that new records are set almost every month. The economy is strong and the population of Toronto continues to grow, two factors that will obviously contribute to demand for housing.

That demand is faced with tight supply. Both new listings (-0.4% to 13,339) and total available listings (-7.5% to 16,180) declined last month. Although we usually see a surge in listings for the fall market, that just hasn’t happened to the degree we used to see pre-recession.

For example, TREB’s Market Watch for October, 2007 showed 13,363 new listings for the month, and 20,626 total available listings (which, by the way, was down from 24,367 in October 2006, 22,875 in October 2005 and 23,353 in October 2004 – all well above today’s inventory). That’s a decline of 20% compared to 2007, and that seriously reduces choice for buyers – and increases the likelihood that buyers will have to compete for a house, which in turn drives up prices.

The average sale price in the 416 increased 7.3 per cent over October of last year, to $630,876. TREB’s HPI, which is designed to properly weight sales by type (because a fully detached house will usually sell for more than a semi-detached) was up 10.3%. Strong sales means serious price increases.

The condo market continues to chug along. Sales in the 416 were up by 9.7% over the previous year; average price increased by 4.2%.

The fall market is still underway, and will go (as much as it can, given the shortage of listings) probably through November. There’s still time to get your house on the market, and if you are a buyer there’s a decent chance you will find what you are looking for before the end of the year.


List of Toronto Community Houses to be sold

October 26th, 2015 Posted by Uncategorized No Comment yet

Here is a list containing most of the Toronto Community Housing Corp single family residences that are slated to be sold via the Toronto MLS. Contact me if the house you are looking for doesn’t appear on this list.

Bain Ave. 176 SOLD
Crawford St. 201 To be listed ***
Crawford St. 205 To be listed ***
Crawford St. 221 To be listed ***
Crawford St. 223 To be listed ***
Douglas Ave. 81 To be listed ***
Dundas St. W. 949 To be listed ***
Dundas St. W. 959 To be listed ***
Dundas St. W. 989 To be listed ***
Geneva Ave. 19 To be listed ***
Geneva Ave. 42 SOLD ***
Harcourt Ave. 24 To be listed ***
Havelock St. 112 To be listed ***
Horseley Hill Dr. 52 To be listed ***
Howland Rd. 16 To be listed ***
Logan Ave. 201 To be listed ***
Noble St. 29 SOLD ***
Parkview Gardens 38 To be listed ***
Roslin Ave. 47 To be listed ***
Roslin Ave. 55 To be listed ***
Strathcona Ave. 23 SOLD ***
Sylvan Ave. 2 To be listed ***
Sylvan Ave. 2A/2B To be listed ***
Sylvan Ave. 4 To be listed ***
Sylvan Ave. 6 To be listed ***
Sylvan Ave. 10 SOLD ***
Sylvan Ave. 14 To be listed ***
Victor Ave. 78 To be listed ***
Willow Ave. 304 SOLD ***


*** Listed with Freeman Real Estate Ltd

Street Profile: Skylark Rd

September 30th, 2015 Posted by Street Profile No Comment yet

The Lambton Baby Point area is somewhat famous for large, expensive homes, but there’s a great pocket just north of Baby Point. The ’50s era development consists of winding streets of brick semi-detached homes right on the Humber River Valley, which – if you didn’t already know – is a fabulous part of Toronto’s natural heritage (e.g. a main route for the annual salmon run). At the same time, it’s close to Bloor St W for great shopping and eating, and the subway for easy access downtown.

In there is a street called Skylark Rd. It’s another street where I have sold more than one house. Ten years ago one could get a decent house (needing a bit of updating) for under $300k. These days, partly because of the generational change there and a wave of renovations, houses often sell for over $600k. It’s an exciting area, and still quite affordable.

My client Sandra put it perfectly: “This is a neighbourhood where the first generation of buyers bought young, raised families and stayed late into their lives. Over the last 10 years couples and young families have steadily replaced those older owners. That pace of turnover has really picked up in the last few years. Now our neighbourhood park is teaming with tons of young families. It’s an easy place to make friends and a safe place for kids to play. For us, the valley is a great neigbourhood for us to raise our family without going to the ‘burbs and Skylark (in our opinion) is one of its best streets.

We love that we’re only a five minute drive from the great stores and restaurants in Bloor West Village, and just a five minute walk from the Humber river with its great parks and trails. There’s also a grocery store literally just around the corner and three good schools within easy walking distance.”

Toronto is full of great pockets and hidden gems, and this is one of them. If you’re looking west end, but High Park is a bit out of reach, try Magwood Park instead! 😉


Top floor unit at 73 McCaul St ** SOLD **

July 20th, 2015 Posted by Uncategorized No Comment yet

Featuring wood floors, a newly renovated bathroom and a spacious balcony, it’s roughly 730 square feet of downtown living – and you won’t get a better downtown setting than the Village by the Grange.

Steps to vibrant Queen St W, also just a short walk to U of T, Chinatown, the Fashion District and the Financial District, Village by the Grange is a classic mixed-use development, including restaurants, shops and a top-notch food court. If you want to live the downtown Toronto experience, you owe it to yourself to check out VBTG.

This great spot sold in just five days! Call me if you need something similar in the area.



Frances Loring Lane – 3 storey townhouse: ** SOLD**

February 4th, 2015 Posted by SOLD!! No Comment yet

The Riverside neighbourhood has grown in leaps and bounds over the last few years. With new condos on Queen St, interesting shops and pubs popping up all around the area (Merchants of Green Coffee, Prohibition) or undergoing a revival (The Opera House, the old red stone ‘club’ at 704 Queen St E…) and the brand new Joel Weeks park, the area is blossoming. A more livable area makes for more foot traffic (locals and shoppers), successful businesses, and surging property values. It’s hard to find an ‘up-and-coming’ area in Toronto – because most of ’em are already here – but Riverside is one.

That’s what makes my new listing there so exciting. Number 2 Frances Loring Lane, right near Broadview and Queen St E, is a 3 storey, 3 bedroom, 1.5 bathroom townhouse with wood flooring throughout. Just about five years old, it features custom cabinetry and Corian counter tops in the kitchen, built-in closet organizers and custom window coverings. It also includes parking and a storage locker, an east-facing, main-floor patio and a west-facing 3rd floor balcony over-looking the Don Valley (with a great view of the city line).

From a location/value point of view, this one is fantastic. It’s a short streetcar ride (501 or 504) downtown or up to the subway (again, the 504) and access to the DVP is right at the top of the street. You can pop down into the Don Valley for a nature walk/run/ride; stroll the local strip; or hike over to Leslieville. It’s no surprise that the walk score is 92 – and the transit score is 97!


UPDATE: We generated five offers on this great listing and sold it on offer night. If you are in the market – or have something to sell in the area – feel free to get in touch with me!

RE/MAX Hallmark Realty Scholarship program

January 30th, 2015 Posted by Fundraising No Comment yet

These days, a post-secondary education of some kind is as important as ever, but also more expensive than ever. That’s why, back in 2007, RE/MAX Hallmark Realty established a post-secondary education scholarship fund for our clients’ children (and our Administrative Staff). It has been a tremendous success. Since it started, we have awarded $101,000 to deserving young adults.

Last year I was asked to sit on the Scholarship Program review committee for the first time, which was a real pleasure. It was great to see a bunch of keen young adults setting interesting goals – and making their pitch for some of the funds needed to reach them!

This year the Scholarship Fund for first year students starting in the 2015 Fall semester is $20,000, to be split amongst the selected winners.* The deadline for applications is March 31st. I want all of my past and present clients with a 1st year student in the family to consider applying! It’s not an arduous process, but we do have some requirements:

  • The applicant must be a child of a past or present client of RE/MAX Hallmark
  • The applicant must be involved in their community (e.g. volunteering, coaching, etc.)
  • The applicant must submit a completed application, school marks from Grade 9 to current semester, 2 reference letters and a 300 word essay (topic of their choice).

Over the years we have provided dozens of kids with thousands of dollars to kick off their post-secondary education, and I’d love to see one of my own clients participate in the program. Call me if you’d like an application!

*The money will be paid directly to the school on behalf of the student.

December 2014 Market/Year End Review

January 7th, 2015 Posted by Market Commentary, Market Review No Comment yet

As expected, December 2014 turned out to be a relatively busy month in the Toronto real estate market. The 4,446 transactions reported by TREB represents a 9.6% increase in sales volume over December 2013 – no mean feat in the face of 10.4% fewer available listings. That activity drove prices up 7% over the previous December, pushing the average sale price for the month to $556,602 (over $520,189 last year).

For the year 2014 TREB reported 92,867 sales, up 6.7% over 2013, but not quite enough to top 2007 – basically, just as I talked about last month. The average price in Toronto increase by 8.4%, to $566,726. (Note that the annual average is slightly higher than the monthly average for December. That type of small difference is not uncommon for the slower months. The months with the highest average prices in 2014 were May and October, which is fairly typical of the real estate market cycle.)

Regular readers will know that I have been tracking condo sales over the past year or so. In keeping with a fairly consistent pattern, condo sales in the 416 were up 16.1% over the previous December. The average price hit $387,612, up 5.4%. Despite lots of construction, there is no ‘glut’, and there has been no ‘crash’ – nor will there be. Condos represent a great starter home, and/or investment holding. That market ain’t going anywhere. (TREB will publish its quarterly Condo report soon, so I’ll add some details then.)

In terms of 2015, there are already loads of predictions out there. Naturally, most media outlets are (as usual) predicting something bad, but (as usual) I disagree with them. The Toronto real estate market is strong and stable – no matter what happens in Calgary or Vancouver – and will probably stay that way for some years to come. However, anything is possible, and this year has quite a number of interesting variables: the drop in oil prices (good news for most of us); the improving US economy (more good news); and possible movement in Canadian interest rates.

On that last note, it looks like rates will stay close to current levels through much of 2015, with possible smallish increases in the latter half of the year. It has been a good run of super-low rates, and that can’t last forever. However, rates will likely edge up in small increments over the span of a year or two. They won’t be jacked up suddenly; inflation is too low to warrant that. Of course, something could happen to stall or accelerate the increases, but at this point it’s reasonable to expect some kind of movement later this year, kicking of a period of increasing rates. Now would be a good time to look at your mortgage renewal, and/or get a pre-approval for your next purchase. (Get in touch with me if you need help with that.)

All in all, I expect that 2015 will be another busy year in Toronto real estate. Prices will continue to rise due to pressure from buyers. Sellers – who still have to present a fair product to the market, at a fair price – will stay in the driver’s seat. Whatever your move will be this year, I’d be happy to help you. Call or email me any time.

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October 2014 Market Review

November 5th, 2014 Posted by Market Review No Comment yet

The Toronto Real Estate Board reported on the October 2014 market stats today. Sales volume was up over October 2013 by 7.7%, to 8,552 transactions. New listings were up only 3.4% over the same period, continuing the now long-standing issue of insufficient supply in the Toronto real estate market. Tight supply (along with an improving economy, decent job growth and an ever-increasing population) drove the average price up by 8.9% over October 2013.

That’s a significant number – higher than income growth (about 3% this year) plus inflation (about 2% year-over-year). It’s great for home owners: you are seeing real capital appreciation; not so great for buyers, for whom it’s getting a bit harder to keep up.

That said, averages are not the whole story. If you want to get into the market, but can’t afford a $650,000 semi near the subway, there’s no need to fret. Although there aren’t really any ‘cheap’ parts of Toronto, one can certainly find decent value in various areas around town. Everybody has to start somewhere, so buying a smaller house, or one somewhere outside your favourite neighbourhood, is perfectly reasonable.

Alternatively, the condo market continues to show strength (sales volume up 8.2%, average price up just 1.5% after a 9.2% increase last month), making that segment a good option, too.

If you’re not into the condo lifestyle, look for an income property! Those are also in high demand, but if you are willing to take on the responsibility, they offer a great way to afford the Toronto market. (Note that there are requirements, demands and liabilities associated with income properties, so we’d have to have an in-depth conversation about it. That said, I’m a big fan, and encourage you to think about it!)

November seems to be off to a busy start – lots of sales have been reported over the last few days. If you are hoping to sell in 2014, there’s still time; and, if you are a buyer, we’ll see quite a few more opportunities before things slow down in mid-December. Either way, call me today and we’ll get to work!